Medical Office Investment
For Sale
$2,500,000
509 Van Buren Road, Eden, NC 27288
Medical office space for sale, leased to Cone Health.
Property Size6,250 SF
Price / SF$400
Days on Market612
Property Features for 509 Van Buren Road
General Information
Standard status
Active
Size
6,250 SF
Property subtype
Commercial
Amenities
City Lot
Building Details
Year Built
1965
Listing Agency:
GUILFORD REALTY GROUP, INC.
(336) 574-1343
Listed By:
WAYNE TROXLER
Source:
Corcoran
Added: Feb 13, 2025
Changed: Oct 1
Last Checked: Oct 16 at 9:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of GUILFORD REALTY GROUP, INC.
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Investment Insights
Based on property information with market context.
This commercial property is currently configured as medical office space. Cone Health occupies 6,250 square feet of the premises under a lease agreement that extends through February 2027, with options for renewal. This property is presented as a prime investment opportunity.
Key Highlights
- Prime investment property.
- Leased to Cone Health, a stable tenant.
- 6250 sf occupied by tenant.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$121,359
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,427,180
$2.4M
Cap Rate 7%
$1,733,700
$1.7M
Cap Rate 9%
$1,348,433
$1.3M
Market Conditions
NOI Build-Up for 6,250 SF
Gross rent
$187.5K $30.00/SF
− Vacancy
−$25.7K −$4.11/SF
EGI
$161.8K $25.89/SF
− OpEx
−$40.5K −$6.47/SF
NOI
$121.4K $19.42/SF
Area
Rockingham County, NC
Vacancy
13.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,427,180
Cap Rate 7%
$1,733,700
Cap Rate 9%
$1,348,433
Alternative Uses
Best Use
Office B
$1.73M
$1.52M – $2.02M
NOI $121,359 @ 7.0% cap · market cap 4.85%
Second Best
Healthcare Medical
$1.05M
$921.3K – $1.23M
NOI $73,703 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $144,242 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27288, NC
23,375
Population
11,127
Households
2.1
Avg Household Size
45
Median Age
13%
College-Educated
85%
High-School Grad
71.4 sq mi
ZIP Area
327
Density / Sq Mi
$53,081
Median Household Income
$36,743
Median Earnings
$828
Median Rent
$129,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space for sale, leased to Cone Health.
Where is this medical office space located?
The property is located at 509 Van Buren Road Eden, NC.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime investment property.; Leased to Cone Health, a stable tenant.; 6250 sf occupied by tenant.
